Marathon Oil first-quarter profit $717 mln vs $784 mln

MichaelBaron

NEW YORK (MarketWatch) -- Marathon Oil Corp.
MRO, -0.41%
Tuesday reported first-quarter earnings of $717 million, or $2.07 a share, down from a year-ago profit of $784 million, or $2.13 a share. On an adjusted basis, the Houston-based oil and gas company earned $707 million, or $2.04 a share, in the latest quarter. Revenue fell in the latest three months to $13 billion from $16.54 billion in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of $1.93 a share in the March period. The stock closed Monday at $101.55, down 1.2%.

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